ICRC on track to revitalising Nigeria’s Economy
By Patience Ikpeme
The Infrastructure Concession Regulatory Commission (ICRC) has stated its readiness towards taking steps to revitalise Nigeria’s infrastructure.
To this, the ICRC will be hosting a summit designed to unlock capital for Public-Private Partnerships (PPPs) across various sectors.
Dr. Jobson Oseodion Ewalefoh, the Director General of the ICRC, emphasized the importance of this gathering, framing it as a catalyst for tangible development.
He articulated a vision for the summit, stating that “it is not just about speeches. We are converging to dismantle bottlenecks, unlock capital, and create impact that Nigerians can see and touch—from power lines to rail tracks, from hospital corridors to broadband cables, transportation, agriculture, education, and tourism.” His words paint a vivid picture of comprehensive development, touching on virtually every aspect of public life.
The summit is not merely a talking shop but a strategic initiative under President Bola Ahmed Tinubu’s Renewed Hope Agenda. According to Dr. Ewalefoh, “We believe that PPPs are the bridge between vision and reality, and this gathering marks a critical step in unlocking Nigeria’s infrastructure potential for generations to come.” He further added that, “The PPP Summit will demonstrate to the world that Nigeria is no longer waiting for change; we are building it, financing it, and delivering it in real time.”
The agenda is ambitious, with key objectives centered on showcasing investment potential and streamlining PPP processes. “Through this Summit, we aim to showcase the investment potential in national infrastructure through a streamlined PPP process and open new channels of investment that deliver real value. It is time to shift from policy to projects, from talks to tangible transformation,” Dr. Ewalefoh explained. This shift underscores a commitment to action and results.
The Summit will take place at the State House Banquet Hall, featuring a keynote address by President Bola Ahmed Tinubu. The event will also host notable figures such as Dr. Benedict Oramah of Afrexim Bank, the Vice President of the African Development Bank (AfDB), and the Regional Director of the International Finance Corporation (IFC), among other distinguished guests. Their presence highlights the international interest and support for Nigeria’s infrastructure ambitions.
A key feature of the summit will be the examination of successful PPP projects, both within Nigeria and internationally. Examples such as the Lekki Deep Sea Port, the Wind Power Project in Cape Verde, and the Sene-Gambia Bridge in Senegal will be presented as replicable models for Nigeria’s infrastructure expansion. These case studies aim to provide practical blueprints for future projects.
The summit is structured to encourage direct engagement between government officials and private investors, fostering collaborative problem-solving. With participation from global investment players like Afreximbank, Africa50, PAC Capital, and KPMG, the summit is poised to facilitate the closing of significant transactions, driving Nigeria’s infrastructure development forward.
